UiPath Gets Investor Suit Dismissed After Exchange of Documents

A UiPath Inc. investor can no longer proceed on claims the automation software company misrepresented its ability to compete with Microsoft Corp., a federal court ruled.

Judge Denise Cote’s change of course Thursday on proposed class allegations she had previously green-lighted in the US District Court for the Southern District of New York came after the parties exchanged documents in discovery.

The latest version of Paul Severt’s complaint didn’t adequately allege the company, whose “robot” products automate information technology tasks, made misleading statements or acted with fraudulent intent, Cote said.

Such proceedings—a new complaint and motion for dismissal—after discovery are ...